State Bank of India (SBI) today said it would cut lending rates on loans given to small and medium enterprises (SME) this month.

SBI to cut lending rates for SME

Press Trust of India

Bankers today said they expect a cut in the cash reserve ratio (CRR) in the Reserve Bank of India's (RBI) credit policy review later this month to ease the tight liquidity situation and boost growth.

Bankers expect RBI to cut CRR

Rates on short-term debt instruments fell by 50-60 basis points on Wednesday on low demand for funds from banks.

Short-term rates get liquidity relief

Business Standard

The season of downgrades for banks just got extended. Rating agency ICRA on Wednesday cut the rating for Kolkata-based UCO Bank&rsquo;s lower Tier-II bonds from &ldquo;AA+&rdquo; to &ldquo;AA&rdquo; due to deterioration in asset quality and weak solvency profile.

Now, UCO Banks bonds downgraded 

ICICI Bank has filed a caveat with the Company Law Board (CLB) and civil courts in some states, requesting for a hearing in case Kingfisher Airlines moves to liquidate assets that are pledged with the bank.

ICICI Bank files caveat with CLB on Kingfisher

The request was put forth at the customary pre-policy meeting on Wednesday between top banks, including State Bank of India and Bank of Baroda, RBI governor D Subbarao and the central bank&rsquo;s deputy governors.

Bankers seek steep rate cuts

Private equity (PE) investments in the March quarter slumped by around 47 per cent to $1,886 million, from $3,614 million in the same quarter last year, according to a study.

PE investments decline 47% in Q4

Growth in bank advances, which remained muted most of the year, picked up in February and March. Banks added Rs 2.6 lakh crore, or a little more than a third of the financial year&rsquo;s total of Rs 6.6 lakh crore of loans, in the past two months of 2011-12, data released by the Reserve Bank of India (RBI) on Wednesday showed.

Banks clock a third of FY12 credit growth in Feb & Mar

Federal Reserve policymakers have backed away from the need for another round of monetary stimulus as the US economy gradually improves.

Fed Reserve tones down stimulus talk

Reuters 

The finance ministry has barred government-controlled banks from investing in joint ventures and non-core activities on the ground that capital should only be deployed in &lsquo;core&rsquo; activities. It has asked banks to take its prior approval before taking such non-core investment decisions and also asked government nominees on bank boards not to pass resolutions to that effect.

Govt banks can't invest in JVs, non-core ops without approval

Banks have started raising the interest rates on foreign currency non-resident (banks) deposits (FCNR-B) after the Reserve Bank of India raised the ceiling on these deposits to attract foreign inflows from non-resident Indians (NRIs).

SBI, Union Bank raise interest rates on FCNR-B deposits

Equity International (EI), the US investment firm, is exploring investment prospects in housing finance companies and non-banking financial companies (NBFCs) funding the real estate sector.

Equity International scouts investment in home finance

Country's largest lender State Bank of India (SBI) is aiming to post a credit growth of 19-20 per cent in the current financial year. &quot;The target (for credit growth) is 19-20 per cent (this year), which was 18-20 per cent (last year),&quot; Chairman, Pratip Chaudhari said on Thursday. In the last financial year, the public sector lender had reduced its credit growth target to 16-19 per cent from an estimated projections of 19-22 per cent at the beginning of the year. Lowering of growth targets was mainly due to lack of demand from corporates owing to economic slowdown in general.

SBI aims 19-20% credit growth this fiscal

Ahead of its annual monetary policy, the Reserve Bank said on Thursday cutting policy rate to promote investment depends upon moderation in inflation and fiscal consolidation. &quot;We need to have low inflation, we need to have rising investment ratio, we need to have strong fiscal consolidation and this in turn provides space for monetary policy to actually support investment ...&quot; Deputy Governor Subir Gokarn said at a summit here.

Low inflation gives room for policy rate cut: RBI

Financial Inclusion Network and Operations (Fino), a Mumbai-based financial inclusion facilitator, is planning to tap the north-eastern region and help in achieving financial inclusion there.

Fino to tap northeast

Once bitten, but hardly twice shy. After having burnt their fingers in the microfinance sector, you might expect investors there to show restraint. On the contrary, private equity and venture capital (PE and VC) companies are exploring newer, more risky terrain, such as the Rs 35,000-crore chit fund sector.

After MFI turmoil, chit funds the next big draw

The Reserve Bank of India (RBI) Deputy Governor Subir Gokarn on Friday said states with weaker finances are able to raise cheaper funds due to the market perception that state debt is sovereign-guaranteed. There was a need to bring about formal institutional fiscal discipline, he said.

RBI tells mkts to price state bonds on financial health

Hinduja Bank, a Switzerland-based financial services arm of Hinduja Group, is diversifying reach of its trade finance business to emerging markets, including India.

Hinduja Bank to expand trade finance business

Credit Agricole SA, France's third- biggest lender, and hedge fund Magnetar Capital LLC were sued by an investor in a collateralized debt obligation that claims to have been defrauded.

Credit Agricole unit, Magnetar sued 

Country&rsquo;s largest lender State Bank of India (SBI) is targeting 20 per cent year-on-year growth in its business &ndash; credit and deposits &ndash; during the current financial year (2012-13) on expectation of better business and economic environment.

SBI estimates 19-20% biz growth this financial year

Asian currencies declined this week, led by the Thai baht and rupee, as rising borrowing costs in Spain renewed concern over Europe&rsquo;s debt crisis and after the Federal Reserve ruled out further monetary easing.

Asian currencies drop this week as Spain reignites debt concerns

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 3268 - Finance News